A lighthouse appraiser adopts an attitude of optimism, curiosity and coachability that enhances individual performance and the collective standards of the valuation profession.
A tugboat appraiser is one of complacency that stifles innovation, hinders progress and erodes competitive edge. This leads to stagnation and decline within our industry. It diminishes client satisfaction and deters new talent from entering the field.
I was hiring a new position at Realwired and the staffing professional asked me, “Are you looking for a rockstar?” I told her, “Ugh, I hate that word!” She asked, “What do you mean?” I said, “Rockstar is overused and doesn’t mean anything.” I suggested she start framing her interviews with the lighthouse-tugboat framework.
This got us chatting to what I really meant by that. When it comes to a new hire, a tugboat is someone that you have to tell them what to do. There is very little self-directed pulling of information to get up to speed. The attitude lacks collaboration, ideation and a “get it done” attitude. Long term, this employee is very expensive and won’t be a future leader.
A lighthouse is someone that knows what to do. While they may not know your specific bank or firm’s culture, processes and playbooks, they have an attitude of optimism, curiosity and coachability. They will be a future leader. We need these type of people since we face industry headwinds.
Top 3 Valuation Profession Challenges
- Absence of entrepreneurialism education and peer support
- Lack a sense of urgency/complacency
- The industry remains unknown because it operates in silent mode
Fee and Chief Appraisers that embody a lighthouse entrepreneurial attitude excel in their own endeavors, uplift and empower those around them and contribute to the overall growth and prosperity of our valuation industry.
New lighthouse appraisers come prepared to provide you with their 30, 60 and 90 day action plan for them to be successful. This reframing of expectations is a game changer, facilitates seamless onboarding with your bank or firm and results in having only “A” players.
Appraisers: Entrepreneurs of Opportunity
- Clearly communicate to your staff specific expectations
- Execute according to the plan (also have a plan)
- Metrics to measure their performance and provide training to improve
Leadership: Demonstrating visionary leadership and setting a positive example for others to follow.
Integrity: Upholding high ethical standards and maintaining transparency and honesty in all dealings.
Supportiveness: Offering guidance, mentorship and assistance to others in the industry and participating in the larger real estate community.
Innovation: Embracing creativity and pushing boundaries to drive positive change and progress.
Resilience: Remaining steadfast in the face of challenges and adversity, inspiring others to persevere.
Illuminate Your Path
Optimism infuses valuation professionals with the resilience and forward-thinking necessary to navigate market uncertainties. An optimistic appraiser sees beyond legacy challenges and focuses on long-term trends and opportunities.
This mindset fosters a constructive environment, encouraging appraisers to seek innovative solutions and improve the creation of the valuation product.
Curiosity is the lifeblood of professional growth and industry advancement. By nurturing a curious mindset, valuation professionals delve deeper into market analysis, explore emerging technologies and stay ahead of industry standards.
This relentless pursuit of knowledge leads to more informed, reliable and comprehensive appraisals, thereby enhancing the credibility and reliability of their product.
Coachability is crucial in a profession that needs to evolve. Openness to feedback and a commitment to lifelong learning ensure that valuation professionals remain adaptable and up-to-date with regulatory changes, market dynamics and technological advancements.
By embracing coachability, appraisers can refine their methodologies, improve their competencies and contribute to the overall integrity of the valuation process.
Incorporating these traits into the valuation profession promotes a culture of excellence, adaptability and continuous improvement.
Our “North Star” is an industry that not only meets but exceeds the standards of accuracy, reliability and professionalism.
Mindset Transformation
The shift from a tugboat to a lighthouse leadership style requires a transformation mindset. For fee appraisers and Chief Appraisers, it represents a move towards a future where adaptability, client-centricity and innovation drive success.
By embodying the qualities of a lighthouse leader, professionals in the appraisal industry can navigate the headwinds with confidence and clarity.
Embrace the future with entrepreneurialism confidence as an effective leader.
Move our valuation profession forward.
Be a lighthouse.
